June 23, 2014

A report from FINRA’s Office of the Ombudsman
describes its role within the non-governmental organization which regulates U.S. brokerage firms and exchange markets, and summarizes the cases and issues received during 2013.

FINRA Ombudsperson Cindy Foster explains the work of her office:

As a designated neutral, the role of the Ombudsman is to provide confidential
and informal assistance to FINRA’s constituents. The Ombudsman does not
advocate for any individual or organization—including FINRA—rather, the
Ombudsman advocates for fair processes. The Ombudsman acts as a source
of information and referral, and assists in answering questions and resolving
concerns. We also help our constituents address their concerns in the most
constructive manner and at the most appropriate level within the organization.

In 2013, the FINRA Ombuds Office opened 567 cases. Individual brokers accounted for 194 (34%) of those cases, while public investors accounted for 174 cases (31%). The remaining cases were from firms, attorneys, FINRA employees, public companies, anonymous individuals and other miscellaneous individuals.

No comments:

Post a Comment

Featured Post

Yesterday, the twelve institutions that comprise Maryland's public university system, were notified that its Ombuds programs cannot ke...

Translate

Organizational Ombuds

Organizational Ombuds serve as a confidential, independent, neutral and informal dispute resolution resource for a specific entity. They are accessible to a defined population and can advocate for fairness. These unique characteristics distinguish Organizational Ombuds from Classical Ombuds, mediators, arbitrators, and other alternative dispute resolution professionals. The term "Ombuds" is shorthand for "Ombudsman," "Ombudsperson" and "Ombuds Officer," which also are used widely.

About Me

I am a University Ombudsperson, Mediator, and Attorney. The material in this blog does not reflect on any matters I have handled or am currently handling. This information should not be construed as legal, medical or psychological advice; readers should consult their own professionals for advice.
(I can be contacted at Tom [dot] Kosakowski [at_sign] gmail [dot] com.)